have doubt on interest on housing loan
one of the employee earning a salary of 22laksh per annum
he has given the Investment declaration of rs 12lakhs
construction of house started 3 months back
what is the Tax treatment for his Tax Liability
please help me out in this regards
Ded^ of Interest u/s 24 in Income from house property is stareted from the day when construction of property is completed.
The interest of loan for construction start and till construction is completed is allocated to 5 continued year as per u/s 24 (a)
And after the interest of loan for each year get ded^u/s 24 (b)
hellow
agreeeeeeeeee wid nikhil
CAclubindia
